Volvo's US December EV Sales Jumped 43% While Plunging in China
By Reuters | 07 Jan, 2026

Volvo's full-EV sales also rose 33% in Europe but dropped 80% in China.

Sweden-based Volvo Cars reported on Wednesday a 2% rise in December sales volumes to 75,049 cars as fully electric models jumped in Europe and the United States but tumbled in China, taking a full-year total volume drop to 7% .   

Hit by President Donald Trump's import tariffs, fierce competition and an electric vehicle market slowdown, Volvo Cars, which is majority-owned by China's Geely Holding, has in 2025 cut 3,000 jobs, slowed investments and taken steps to move production of some hybrids to the U.S..

Volvo Cars said in a statement the sale of fully electric cars rose 28% year-on-year in December. In Europe and the U.S., it was up 33% and 43%, respectively. China, however, saw an 80% dive. Sales of electrified models as a whole were up 6% as plug-in hybrid sales fell. 

"Despite a challenging market that continues to be under pressure on multiple fronts, we are encouraged to see increased deliveries of our fully electric products, notably the EX90 and EX30," the company said. 

It in 2025 sold in total 710,042 cars. China, followed by the U.S., Britain, Germany and Sweden, were its largest markets. 

"Overall, 2025 was a challenging year for Volvo Cars and the broader industry alike," it said.  

Shares in the company, which is targeting an operating profit margin of more than 8% and which is due to report full-year results on February 5, were down 2% at 0950 GMT. Over the past 12 months, the stock is however up 35%. 

(Reporting by Jagoda Darlak, editing by Terje Solsvik and Anna Ringstrom)